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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (55984)	6/13/2006 5:00:13 PM
From: Beachside Bill	Read Replies (1) \| Respond to of 306849

Watch Utilites - that own coal mines...profits should drop like rocks and with the Dec. 2007 synfuel giveaway ending and all most here (yet they don't make profits above $62/barrel for oil). Down we go. 33% drop in coal over the last month and all utilities sitting at highs.

To: patron_anejo_por_favor who wrote (55984)	6/13/2006 6:57:51 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 306849

San Diego County home prices take a tumble signonsandiego.com By Roger M. Showley UNION-TRIBUNE STAFF WRITER 11:45 a.m. June 13, 2006 SAN DIEGO – San Diego County's home prices took their biggest tumble for any spring on record last month, DataQuick Information Systems reported Tuesday. The median price of all homes sold in May was $490,000, down $15,000 from April, although it was still slightly higher than a year ago. Sales slowed for the 23rd straight month on a year-over-year basis, reaching 4,217 transactions in new and existing homes and condos. Local real estate agents reported about seven months' worth of unsold inventory, but argued that the pace of activity reflects a normal market rather than a crash. Leslie Appleton-Young, chief economist for the California Association of Realtors, said she no longer uses the term “soft landing” to describe the state of the housing market, but has yet to find a way to characterize current conditions. “I'm searching for a new moniker,” she said. She and other industry leaders have rejected analogies like a “housing bubble” prone to popping. But other economists have predicted that Southern California and San Diego, in particular, are susceptible to a major housing price correction, especially if mortgage interest rates continue rising from their current level of about 6.6 percent on 30-year, fixed-rate loans, as many expect. In San Diego County, the median price decline in May occurred because of a major drop in the category that includes new construction and condo conversions. That decreased by $71,000 from April to May to stand at $424,000, a reflection of the impact of lower-priced conversion sales. On a year-over-year basis, the new construction and condo conversion median price was $19,500 lower than the $443,500 median price reported in May 2005. In the resale category, the median price of houses and other single-family homes rose by $14,500 from April to May to stand at $569,500, while the median price of condos increased by $2,000 to $397,000.